Jupiter shares rise in the grey market

UNOFFICIAL dealings in the fund manager Jupiter saw the shares peak at 190p, well above the 165p price at which new shares were issued in the group’s flotation.

Sources said 25m shares were traded and the closing price came in at 188.5p.

It also emerged yesterday that the fund management group BlackRock has emerged as a 5.1 per cent shareholder in the group.

Chief executive office Edward Bonham Carter said he was pleased with the result of the share offer, which saw the shares priced near the bottom of their range. “'The success of the offer is a tremendous achievement for Jupiter, particularly considering the ongoing volatility in global stock markets,” he said.